The laboratory information systems market size will reach USD 832.24 million globally by 2026 at a CAGR of 9.04%

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NEW YORK, July 5, 2022 /PRNewswire/ — Laboratory Information System (LIS) Market Share Expected to Increase by $832.24 million from 2021 to 2026, and the growth momentum of the market will accelerate to a CAGR of 9.04% according to Technavio’s latest market report. The LIS market is fragmented and vendors are deploying various organic and inorganic growth strategies to compete in the market. American Soft Solutions Corp., Cerner Corp., Comp Pro Med Inc., CompuGroup Medical SE and Co. KGaA, Computer Programs and Systems Inc., Epic Systems Corp., Medical Information Technology Inc., Orchard Software Corp., Soft Computer Consultants Inc and Sunquest Information Systems Inc are among the major players in the market.

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Laboratory Information Systems Market 2022-2026: Scope

The Laboratory Information System Market report covers the following areas:

Laboratory Information Systems Market 2022-2026: Market Dynamics

  • Drivers: The key factor driving the growth of the laboratory information systems market is the need for laboratory automation. Laboratory automation is gaining momentum as a viable alternative to address labor shortages and reduce manual intervention in laboratory processes. Using dedicated workstations and software to set up instruments that can automate routine lab activities improves lab productivity and allows individual researchers to focus on more critical tasks. The presence of monitoring standards, along with stringent regulatory criteria for error-free results, encourages the creation of efficiencies with repeatable results. Laboratory information systems offer an effective solution as they greatly facilitate, advance and improve the productivity and efficiency of laboratory processes.
  • Challenges: The high maintenance and service costs will be a major challenge for the laboratory information system market during the forecast period. According to industry analysts, the cost of maintaining IT solutions is higher than the cost of the product itself. Service and maintenance (which includes software updates to meet changing end-user needs) are recurring expenses that account for nearly 20-30% of total cost of ownership. In addition, training and implementation costs represent approximately 15% of the total cost. Many small and midsize labs find it difficult to invest in these systems due to these cost constraints, which limits the adoption of LIS.

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Laboratory Information Systems Market 2022-2026: Segmentation Analysis

  • Deployment
  • Geography
    • North America
    • Europe
    • Asia
    • LINE
  • Know the market contribution of each segment – Click now!

Prepare for great business results with this exclusive Laboratory Information Systems Market Technavio report. The report will include highlights of the overall market, which includes frequently asked questions such as –

  • What are the historical revenue figures and estimated revenue figures along with the CAGR during the forecast period?
  • What is the current trend in the market?
  • What are the business tactics that will influence the competitive scenarios while defining the growth potential of the market?
  • What are the market drivers, restraints, and challenges impacting market demand and growth?
  • Which regions and segments will generate massive revenue and emerge as market leaders in the coming years?

The competitive scenario predicted in the Laboratory Information Systems Market report analyzes, evaluates and positions companies based on various performance indicators. Some of the factors taken into consideration for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, market share growth, etc. your business goals with our Laboratory Information System Market Forecast Report – Buy now!

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Laboratory Information System Market Scope

Report cover

Details

Page number

120

base year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 9.04%

Market Growth 2022-2026

$832.24 million

Market structure

Fragmented

Annual growth (%)

8:35

Successful market contribution

North America at 41%

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

American Soft Solutions Corp., Cerner Corp., Comp Pro Med Inc., CompuGroup Medical SE and Co. KGaA, Computer Programs and Systems Inc., Epic Systems Corp., Medical Information Technology Inc., Orchard Software Corp., Soft Computer Consultants Inc, and Sunquest Information Systems Inc.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period,

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: forecast for 2021 – 2026

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by deployment

  • Market segments
  • Comparison by deployment
  • On-site – Market size and forecast 2021-2026
  • Cloud-based – Market size and forecast 2021-2026
  • Market Opportunity by Deployment

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2021-2026
  • Europe – Market size and forecast 2021-2026
  • Asia – Market size and forecast 2021-2026
  • ROW – Market size and forecast 2021-2026
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Insight
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • American Soft Solutions Corp.
  • Cerner Corp.
  • Comp Pro Med Inc.
  • CompuGroup Medical SE and Co. KGaA
  • Computer programs and systems inc.
  • Epic Systems Corp.
  • Medical Information Technology Inc.
  • Orchard Software Corp.
  • Soft Computer Consultants Inc.
  • Sunquest Information Systems Inc.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 specialist analysts, Technavio’s reporting library consists of more than 17,000 reports and accounts, covering 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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